Intuitive Surgical, Inc. $ISRG Shares Acquired by Abner Herrman & Brock LLC

Key Points

• Abner Herrman & Brock LLC increased its ownership of Intuitive Surgical shares by 152.1% in Q2, holding 31,490 shares valued at approximately $17.1 million.
• Analysts have raised their price targets for Intuitive Surgical, with Citigroup setting a target of $650.00 and thirteen analysts rating the stock as a Buy.
• Insider Gary S. Guthart sold 29,360 shares at an average price of $472.49, resulting in a 59.69% decrease in their ownership stake.

Abner Herrman & Brock LLC grew its holdings in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 152.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,490 shares of the medical equipment provider's stock after buying an additional 19,000 shares during the period. Intuitive Surgical accounts for about 1.9% of Abner Herrman & Brock LLC's holdings, making the stock its 28th biggest holding. Abner Herrman & Brock LLC's holdings in Intuitive Surgical were worth $17,112,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ISRG. Chilton Capital Management LLC raised its position in shares of Intuitive Surgical by 614.3% in the first quarter. Chilton Capital Management LLC now owns 50 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 43 shares during the last quarter. Global Financial Private Client LLC raised its position in shares of Intuitive Surgical by 253.3% in the first quarter. Global Financial Private Client LLC now owns 53 shares of the medical equipment provider's stock valued at $26,000 after buying an additional 38 shares during the last quarter. Elite Financial Inc. acquired a new stake in shares of Intuitive Surgical in the first quarter valued at about $26,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Intuitive Surgical in the first quarter valued at about $30,000. Finally, TD Capital Management LLC raised its position in shares of Intuitive Surgical by 300.0% in the first quarter. TD Capital Management LLC now owns 60 shares of the medical equipment provider's stock valued at $30,000 after buying an additional 45 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ISRG. Wells Fargo & Company upped their price objective on shares of Intuitive Surgical from $559.00 to $599.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Evercore ISI upped their price objective on shares of Intuitive Surgical from $470.00 to $550.00 and gave the company an "in-line" rating in a report on Tuesday, July 8th. Erste Group Bank reissued a "hold" rating on shares of Intuitive Surgical in a report on Wednesday, July 23rd. Wall Street Zen raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Citigroup reissued a "buy" rating and issued a $650.00 price objective (up previously from $590.00) on shares of Intuitive Surgical in a report on Thursday, May 22nd. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $595.95.

Insider Transactions at Intuitive Surgical

In other news, insider Gary S. Guthart sold 29,360 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the sale, the insider owned 19,827 shares of the company's stock, valued at approximately $9,368,059.23. This represents a 59.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy L. Ladd sold 335 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $440.69, for a total transaction of $147,631.15. Following the sale, the director directly owned 739 shares in the company, valued at $325,669.91. This represents a 31.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,224 shares of company stock valued at $21,716,492. 0.70% of the stock is currently owned by corporate insiders.

Intuitive Surgical Price Performance

Shares of ISRG stock opened at $449.68 on Friday. The firm has a market cap of $161.20 billion, a PE ratio of 62.72, a price-to-earnings-growth ratio of 4.78 and a beta of 1.61. The company has a 50-day moving average of $485.67 and a two-hundred day moving average of $508.21. Intuitive Surgical, Inc. has a 1-year low of $425.00 and a 1-year high of $616.00.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.26. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.35 billion. Intuitive Surgical had a net margin of 28.51% and a return on equity of 14.56%. Intuitive Surgical's revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.78 earnings per share. Sell-side analysts anticipate that Intuitive Surgical, Inc. will post 6.43 EPS for the current fiscal year.

About Intuitive Surgical

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.

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